The United States has imposed sanctions on three Bulgarians and 64 companies linked to them, over their alleged corrupt activities. The three businessmen are former lawmaker and media mogul Delyan Peevski, government official Ilko Zhelyazkov and fugitive gambling tycoon Vassil Bozhko. Those blacklisted are banned from the US financial system, their assets frozen; it is also prohibited for Americans to have any dealings with them.
Bulgaria and the EU are in support of the sanctions, and Sofia has announced its own “blacklist” of companies and people associated with the three Bulgarians and the 64 entities. The extended blacklist of Bulgaria’s caretaker cabinet including over 60 Bulgarian companies and individuals may be voided as unconstitutional in lawsuits filed by those listed. Domestically, the measures are likely to exert a domino effect of bankruptcies, putting many company employees out of work and leading to a massive increase in public spending on unemployment benefits.
Teltonika has announced it is halting the construction of its EUR 3.5bn High-Tech Hill park…
Hungary’s electricity market has become a focal point for speculative trading, driven by a combination…
Central and Eastern Europe (CEE) is a rising force in artificial intelligence (AI) and startups…
The European Commission (EC) analyses the accession prospects of all ten prospective members of the…
As Donald Trump officially declared his victory in the US election, he received congratulations from…
European leaders committed to developing a defence industry base and enhancing EU competitiveness at an…